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Broker Talkback

Do you agree with the FSA that any fall in the number of advisers caused by the retail distribution review will be made up by primary advisers?

Yes 25%
No 75%

No “I don’t think they can replace IFAs. I think primary advice would be a replacement for the old direct salesforce but would not be a replacement for the holistic IFA.”

Martyn Collett, Collett Financial Planning

No “Primary advisers can not replace genuine IFA’s because they will not offer a like for like service.”

Derek Vivian, Ethical Plus

Yes “Some of the less well qualified IFAs could be replaced by primary advisers but it would be more difficult to replace highquality advisers.”

Martin Collins, Grant Thornton

No “If primary advisers are only able to give advice on limited products I don’t think they will be able to replace IFAs.”

Rob Turrell, Echo Financial Planning

No “Probably not. I don’t think it is possible to replace IFAs in the markets we are working in. I don’t see how they can possibly do it. That is no reflection on the individual primary adviser but we are looking at the market in rather more depth as a matter of course. What is dangerous is this is muddying the water all the time as far as the public is concerned.”

Grevill Price, Cranwell Insurance & Investment Services

Yes “If there is a gap in the market it will get filled.”

Martin Lumsden, AM&A Financial Consultants

No “Due to the very close contact we develop with clients over a number of years one would hope the professionalism of IFAs will keep them in a very strong position.”

Stephen Moisey, Abacus Insurance and Finance Consultants

No “You cannot replace a trusted adviser with Joe Bloggs and you also cannot replace a relationship built up over many years.”

John Hodgson, Craven Hodgson

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